AFSA Examining 2018 HMDA Data

April 01, 2019

AFSA looks forward to examining the 2018 HMDA data in detail during the coming weeks.

"While HMDA data can assist regulators in several ways, the publicly-released data does not present a complete picture of the mortgage lending process," said AFSA President & CEO Bill Himpler. "Only by examining loan-level data can accurate conclusions be drawn. However, the CFPB should not publicly disclose loan-level data. Doing so would compromise individuals’ sensitive information without their consent. Undoubtedly, consumers would object to having their address and credit scores disclosed on a government website."

However, without that loan-level information, HMDA data cannot be used to draw accurate conclusions about why a loan was refused or made at a particular rate. The Federal Reserve has cautioned that using raw HMDA data alone could lead to faulty conclusions about lending practices.

As a reminder, here’s a summary of what data is collected now and what will be reported.